Northern Trust ERISA Suit Survives Bid To Toss

Law360, New York (March 11, 2010, 4:46 PM EST) -- A federal judge has moved ahead a proposed class action accusing financial holding company Northern Trust Co. and several of its officers of encouraging participants in its pension plan to invest in its stock, which plummeted in 2008 thanks to risky investments.

In an order handed down Tuesday, Judge Joan Humphrey Lefkow of the U.S. District Court for the Northern District of Illinois also dismissed several claims in the suit said she did not believe the plaintiff was likely to succeed on the merits.

The suit,...
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